Big Bucks leased equipment to Shannon Company on July 1 2021 The lease payments were calculated to provide the lessora 9x return. Eight annual lease payments of $27,000 are due each July 1 beginning July 1 2021 FV of $1 PV of $1. FVA of $1. PVA $1 EVAD of S1 and PVAD of 50 (Use appropriate factor(s) from the tables provided.) Required: 1. Prepare the journal entries to record the lease by Shannon at July 1 2021, and at December 31, 2021, the end of the reporting period. Consider this to be a finance lease. 2. Prepare the journal entries to record the lease by Shannon at July 1, 2021, and at December 31, 2021 the end of the reporting period. Consider this to be an operating lease. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries to record the lease by Shannon at July 1, 2021, and at December 31, 2021, the end of the reporting period. Consider this to be a finance lease. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to the nearest whole dollar amounts.) View transaction list Journal entry worksheet Record the lease. Note: Enter det before credits General Journal July 01, 2021